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20121120
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back really. i'm just focused on trying to figure out what to do in this environment like i would be in any which brings us to the stock market. already sending a message to washington perhaps about the necessity of a deal on the fiscal cliff. six out of the last seven sessions have been negative. down more than 5% on fears about it but you've been bringing up the market action similarity to a certain extent to 20 plus years ago. a year ago let's not forget we were starting to deal with europe. it did not end until we got ltro, long-term refinancing operations from ecb that said we're going to -- it's not going to go bankrupt today. that's when we were watching italy above 7%. today those ten-year yields up 4.5, 4.6. >> talk about how italy has come. the economy is better than other countries. northern part of italy is increasing industrial production. that's impressive. they never gave up. italian banks some are happy with no problems funding. the reason i go back which is of the analogy why i go back that far. that's a tuesday, wednesday thing in europe. you focus on when ecb me
document. the job of government is to provide an environment in which our citizens can live their lives knowing that they will not be subject to nefarious actions by others. in the case of the farmers and ranchers, the terrible stories, thousands of stories like this that the chairman described. there was a failure of government to protect these people, and the results of this investigation, fulfilling congress' obligation to oversight, tell us we have many opportunities to improve and provide better protection, and these opportunities run the gamut from following the behavior of those who are in charge at entities like mf global to monitoring and modifying the ways in which the rating agencies do their business, do their job. there have been so many failures in so many ways, not only at an f global, but at other similar stories in recent history. one common strand seems to be that we need to provide our regulators with better tools to pursue the enforcement of law that existed prior to the massive imposition of dot-franc pit which did not have infinite resources and united states, nor
the environment for investment. in the dodd-frank bill, there is an amendment that make select all -- makes it law that the extractive industry, mining, oil, gas, registered on the new york stock exchange, it is law that they have to publish what they paid for those mining rights. it sounds obvious, doesn't it? the truth is that right now, the american petroleum institute's is suing the sec to try and overthrow that. that is astonishing. i know people and oil companies who are amazing people, and it is very important to energy here. in this case it is not a political issue. europe and america are going to make this outlandish opacity, and if that is not a word, i would like to suggest it to the oxford dictionary. when you publish what you pay, then the civil societies in those regions get to hold the government to account. that is one of the best things you can do to stimulate business investment. thank you. >> i am stating international development so this is close to my heart. how we develop the perspective and the mindset and incentivize people -- >> i am sorry i missed that. >> the whole quest
Search Results 0 to 2 of about 3